Omnova Solutions Inc. (OMN) Director James A. Mitarotonda Acquires 38,313 Shares
Omnova Solutions Inc. (NYSE:OMN) Director James A. Mitarotonda purchased 38,313 shares of the company’s stock in a transaction on Thursday, September 29th. The stock was bought at an average price of $8.11 per share, for a total transaction of $310,718.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Omnova Solutions Inc. (NYSE:OMN) traded up 4.84% during midday trading on Friday, hitting $8.44. The stock had a trading volume of 311,066 shares. Omnova Solutions Inc. has a 12-month low of $4.37 and a 12-month high of $10.42. The company’s market cap is $380.86 million. The company has a 50-day moving average price of $9.46 and a 200-day moving average price of $7.78.
Omnova Solutions (NYSE:OMN) last released its quarterly earnings data on Thursday, September 22nd. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by $0.03. The firm earned $195.60 million during the quarter. Omnova Solutions had a negative net margin of 1.05% and a positive return on equity of 18.39%. Omnova Solutions’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. Equities analysts anticipate that Omnova Solutions Inc. will post $0.50 EPS for the current year.
Several equities analysts have commented on OMN shares. Zacks Investment Research lowered shares of Omnova Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 24th. Jefferies Group reiterated a “buy” rating on shares of Omnova Solutions in a research note on Thursday, June 30th. Finally, TheStreet upgraded shares of Omnova Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd.
Several institutional investors have recently added to or reduced their stakes in OMN. Schwab Charles Investment Management Inc. raised its position in Omnova Solutions by 123.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 332,674 shares of the company’s stock valued at $2,412,000 after buying an additional 184,095 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Omnova Solutions during the second quarter valued at approximately $396,000. American Century Companies Inc. raised its position in Omnova Solutions by 86.2% in the second quarter. American Century Companies Inc. now owns 75,437 shares of the company’s stock valued at $547,000 after buying an additional 34,926 shares during the period. Cubist Systematic Strategies LLC bought a new position in Omnova Solutions during the second quarter valued at approximately $117,000. Finally, Paloma Partners Management Co bought a new position in Omnova Solutions during the second quarter valued at approximately $100,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.
Omnova Solutions Company Profile
OMNOVA Solutions Inc (OMNOVA) is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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